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LONDON, Sept 12 (Reuters) - One of British retailer Marks &Spencer's most senior directors is to leave the firmfollowing a year out of the business on maternity leave.
The clothing and food group said on Monday Laura Wade-Gery,executive director, multi-channel, will not return following herperiod of maternity leave and will officially leave the companyon Sept. 30 after five years at the firm.
In December Wade-Gery had extended her leave until Sept. 1.
However, in April Steve Rowe succeeded Marc Bolland as chiefexecutive. A month later he shook up the responsibilities of hisexecutive team and simplified the firm's management structure,sparking speculation on whether there would be any role forWade-Gery.
In the past the former Tesco executive had beentipped by some as a possible successor to Bolland, though herstar waned somewhat in 2014 when M&S's new online platform gotoff to a shaky start.
"I've been away from the business for a year now, and thattime has seen some significant changes in both my personal lifeand in the business," she said in a statement. "I concluded thatthe time was right to move on from M&S."
Wade-Gery's agreed departure will see her receive monthlypayments of up to a maximum of eight months' salary andbenefits, subject to mitigation.
Rowe, a 26-year M&S veteran, has pledged to turn aroundM&S's struggling clothing business by improving ranges andavailability, cutting prices and offering fewer promotions.
However, his plan, outlined in May, came with a warning of ashort-term dent to sales and profit and in July the 132-year-oldgroup reported its worst quarterly clothing sales for a decade.
Shares in M&S, down a third over the last year, closed down5 percent at 326 pence. (Reporting by James Davey; editing by Susan Thomas)
